Final Exam Flashcards
As e-commerce continues to develop, many retailers are likely to maintain some type of “brick-and-mortar” store or physical location primarily because
consumers expect integrated shopping experiences that include face-to-face options.
According to our TED video “The Joy of Shopping”, which type of commerce is particularly good at helping online sales in developing countries?
Conversational Commerce
E-commerce ________ includes creating marketing messages that contain the individual’s name, appeal to his/her interests, and take their purchase behavior into account.
personalization
online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as
user-generated.
Which portion of Gartner’s Magic Quadrant identifies those providers with significant market share, robust and scalable solutions, broad features and good distribution?
Leaders
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?
web planning
A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The blog posts are designed to include the SEO terms that relate to the company’s newest skin care product, using the keywords that will also be used in their advertising campaigns. What part of the e-commerce timeline would this be a part of?
implementation
The organizations likely to benefit the most from the global reach of e-commerce are those that
previously depended on foot traffic into one physical store to sell their products.
What was the original planned name for the company now known as Amazon?
Cadabra
Which type of Ad Network is the best offers the least amount of company control to where a company’s advertisements are placed, but offers low cost to the company?
Blind
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?
mobile platform planning and implementation
E-commerce transactions that are executed using wireless mobile devices are known as
m-commerce.
The e-commerce company with the highest revenue is based in which country?
the United States
E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.
ubiquity
Which of the following scenarios represents a customer acquisition cost of $100?
A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.
On an e-commerce presence map, what is presence?
websites, email, social media sites, and offline media
M-commerce is a subset of
traditional e-commerce.
________________ is a small text file left on a website visitor’s hard drive that is used to personalize the site for the visitor or track web activities.
Cookie
According to our Tech Bytes, Tanner shared that Russian citizens are leveraging this technology to attempt to access web based services that are being blocked.
Virtual Private Network (VPN)
Built on real-time geodata and information provided from wireless mobile devices, ________ are widely used in m-commerce.
location-based services (LBS)
What is the basic formula for estimating risk exposure?
multiply risk probability by risk impact
Which of the following best describes a project charter?
a key document that authorizes a project
To assist project managers with determining and evaluating potential risk, the project management body of knowledge (PMBOK) identifies ________ processes.
six
Of the following descriptions, which one accurately applies to slack?
time when one project activity is waiting for another activity
What is the goal of a project portfolio manager?
ensure that their firm accepts only the right projects
Which of the following best describes the term scope creep?
the way in which project features are added in an uncontrolled way
Which project management tool is so important that nearly all PM software includes support systems for it, to ensure that all stakeholders are kept informed of a project’s status?
a communications plan
How does a Gantt chart indicate that two activities will be conducted concurrently (at the same time)?
The horizontal bars for each will occupy the same columns (days).
Which type of chart commonly used by project managers is a horizontal bar chart that shows project activities on the y-axis and time on the x-axis?
Gantt chart
Which statement correctly summarizes the role of the project manager (PM) during the execution stage of the project management process?
The PM monitors progress and resources and adjusts the schedule as needed.
Every project faces limitations, such the amount of available equipment or environmental constraints. To mitigate these limitations, project managers use software that provides
resource leveling.
What does an oval represent on a flowchart?
beginning and end
A network chart that displays all the paths to project completion is known as a
program evaluation and review technique chart.
To assist stakeholders to visualize the project processes, project managers have long used
flowcharts.
On the flowchart, a decision point is depicted by a(n)
diamond.
The essential function of resource leveling is to
keep the project moving toward completion by reassigning resources.
During which phases of a project is project management software used to increase the efficiency of all team members?
initiation, planning, execution, and closure
Which type of network chart allows project managers to redirect resources from processes that are not on the critical path to ones that are on the critical path?
a PERT chart
Which word best describes the nature of projects, given that they have starting points and (hopefully) ending points?
temporary
Which shape in a common flowchart represents a process or step?
rectangle
According to Professor Porter, a business must differentiate itself from its competitors. One method is to encourage customers to believe that an organization provides higher quality goods or better service, then the organization can charge a premium, or gain market share, or (ideally) both. For example, by placing a swoop icon on a sweatshirt, Nike is able to charge a higher price. This methodology is called
monopolistic competition.
Coca-Cola and PepsiCo dominate the soft drink market. However, during the 2000s, many customers switched from soft drinks to water, causing Coca-Cola and PepsiCo to develop Dasani and Aquafina. The ability of customers to switch from one product to an alternate product illustrates what Porter called the force of
substitutes.
Apple uses Corning’s glass products for all its devices, such as the Gorilla Glass 6 used in the iPhone 11 series. To ensure that it continues to have a strong relationship with this glass industry leader, Apple has invested nearly $500 million toward Corning’s advanced glass research division. By building up this relationship, Apple seeks to maintain some control over which of Porter’s 5 forces?
suppliers
What is legendary GE CEO Jack Welch quoted as saying about competition?
“If you don’t have a competitive advantage, don’t compete.”
Over 50 percent of all innovative products fail in the market, while over 80 percent of the successors to the products succeed. This is a key tenet of ________ strategy.
fast-follower
Which is the best explanation of why technology is highlighted in a PESTEL analysis?
Failing to keep up with advances in technology can harm an organization’s competitiveness.
Karl Benz invented the internal combustion automobile in 1885. More than a century before, Adam Smith had described how division of labor creates efficiencies. When Henry Ford set up Model T production on an assembly line in 1908, he combined technology and efficiency to produce an inexpensive automobile. Ford transformed the personal transportation market. Christensen called this process
disruptive innovation.
The costs that customers incur when they change suppliers.
Switching costs
Coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. What aspect of the coffee stand business makes raising prices difficult?
its low barriers to entry
When conducting a SWOT analysis, an organization’s human resource management system is used to evaluate the relative strength or weakness of its
personnel (workforce).
When competitors seek to gain competitive advantage through price leadership or by making product improvements, Professors W. Chan Kim and Renee Mauborgne would say they are using a(n)
red ocean strategy.
Creating an entirely new market is an example of a ________ ocean strategy.
blue
In Tech Bytes, Thien shared that the Apple Campus has a roof made almost entirely out of this material.
Glass
Management information systems allow managers to build upon an organization’s existing strengths to create
competitive advantages.
With the increasing presence of Internet e-commerce sites, the force of customers has
increased.
Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers’ opinions using CRM software?
sociocultural
The National Award for performance excellence, leadership, strategic planning and business performance is:
Malcolm Baldrige Quality Award
Network effects refer to the _________.
increased value of a product or service because there are more people using it
Which of the following statements is true of the value chain?
The value chain includes primary and support activities used to produce a product.
Economies of scale means using
large production or purchasing power.
Quantifiable values that validate how effectively an organization is accomplishing significant business objectives are called key
performance indicators (KPIs).
In the analytical hierarchy process (AHP) programming model, what is the first thing placed into a hierarchy to facilitate the decision-making process?
variables or conditions in the situation
Which type of MIS report pinpoints outliers that vary from the norm, such as when a production quota falls below forecasted levels?
exception reports
The Data Management Body of Knowledge (DMBOK) defines the planning, implementation, and control of activities that apply quality management techniques to data as
data quality (DQ).
In the Five Whys, why is it important to continue to ask why after asking why the problem occurred?
this will help you understand the root cause of the problem, not just a surface issue that may have arose
What is the most likely reason that unstructured decisions are typically made by higher-level management?
They require strategic, long-term thinking.
What is a main component of the belief action outcome framework (BAO) that organizations provide to address the economic, environmental, and social impacts that result from their day-to-day operations?
sustainability reports
What function allows managers the ability to search data sets for information that is needed for a given decision?
filtering
The question in the center of Simon Sinek’s Golden Circle.
Why
IBM estimates the U.S. economy loses over $3.1 trillion per year as a result of
bad data.
What type of decision-making software can identify issues and find and implement solutions at transactional speed?
high-velocity
Which of the measurable outcomes of the balanced scorecard framework focuses on organizational culture?
learning and growth
In a multiple-criteria decision analysis (MCDA), what are you doing when you are identifying available options?
comparing different options in order to determine which are best candidates for measure
Which outcome of the balanced scorecard framework measures how efficiently a business is operating?
internal business processes
In terms of information quality, define “relevance” as a factor.
Data to be collected should be useful to the organization.
The first step involved in knowledge management is ________.
identifying the goal of the project
What are the five classical functions of managers as identified by management theorist Henri Fayol?
planning, organizing, coordinating, deciding, controlling
When managers work on strategic objectives, handle conflicts, and allocate budgetary resources to subordinates, what role are they enacting, according to Mintzberg?
decisional
Corporate-level managers/executives are responsible for making decisions that impact profitability and the short-term and long-term success of an organization. To get the information they need, managers rely on output provided from
Executive Support Systems (ESS).
Which of the following is true of group decision support systems?
They allow users to express independent viewpoints that may differ from those of others in a group
What is a company that purchases consumer behavior information from other organizations engaged in?
third-party data purchase
A company wants to begin monitoring the Internet usage of its office employees to ensure that their working hours are spent productively. What is the least that the company should do to respect its employees’ rights to information privacy?
Inform employees of the monitoring and obtain their consent.
Cyber criminals often demand ________ as a ransom payment because this type of money is difficult to trace and accessible through any Internet-connected device.
cryptocurrency
The principle that states that when faced with an ethical dilemma a manager should choose the option that does the greatest good for the most people involved is called the
Utilitarian Principle.
________ software allows managers to take control of an employee’s computer remotely and record the computer’s mouse and keyboard entries.
Remote desktop
Which of the following actions would violate an organization’s prohibitions on the personal use of company computers as well as the law in most countries?
distributing company-owned software without authorization
The Act that is important in specifically protecting email and VoIP communications is the
Electronic Communications Privacy Act.
Which law or set of laws was created to implement two World Intellectual Property Organization (WIPO) treaties and to update copyright laws regulating digital material?
the Digital Millennium Copyright Act (DMCA)
To address the ethical concerns surrounding ________, many employee handbooks state that the organization must use data responsibly and always respect privacy.
information privacy rights
Which principle of ethical conduct calls for allocating rewards equitably according to individuals’ productivity?
the Principle of Distributive Justice
Living a virtuous life involves acting with high morals that are logically defined or shaped by
ethics
Music files and video games are examples of what kind of property in the eyes of the law?
intellectual property
While a religious leader may provide guidance on how to uphold high morals, ________ provide the reasons for acting morally.
ethics
When making an ethical analysis, you should get all the pertinent facts and then
determine the affected.
A bank clerk has inappropriately used a customer’s personal email address. The branch manager reprimands the employee and withholds an expected promotion. Which dimension of ethical behavior in the digital age is demonstrated by this disciplinary action?
control and accountability
The Act that signed into law to monitor terrorist activities and communications following the 9/11 attacks and the 2001 anthrax attack on Congress is the
USA PATRIOT Act/USA Freedom Act.
The Universalist Principle states that
a decision must be fair for all involved.
Which step of an ethical analysis is designed to enable a manager to obtain guidance or insights from other managers?
searching for precedents
When making an ethical analysis, what is the last thing a manager should do before making a decision and preparing for the consequences?
listing options
Deepfake technology raises questions about the ethics of
modifying images or video by replacing one person’s likeness with another’s.
The practice of selling used, old, or obsolete
products via the Internet in exchange for a
new product or a cash payout
Re‐Commerce
Online content that has been created and
posted by unpaid contributors such as
customers or fans of a product or service
User Generated Content
Online marketplaces where one consumer
sells to another consumer. eBay, Craigslist, and
parts of Amazon are prime examples.
Consumer‐to‐Consumer
Information about geographic locations that is
stored in a geographic information system
(GIS)
Geo‐Data
A metric that is used by e‐commerce companies
and other sales‐related organizations to assess
the costs associated with convincing a potential
customer to purchase a service or product.
Customer Acquisition Costs
A temporary activity that is launched for a
specific purpose, to carry out a particular
objective.
project
A series of events designed to deliver a
product or service that is recurring in nature.
Process
Products, documents, or services that will be
handed over to the sponsor during the course
of the project.
Deliverables
An orderly listing of actual tasks that a project
team must complete to produce the project’s
deliverables.
- Work Breakdown Structure
* (Displayed in a Gantt Chart)
Time, Cost and Scope are known as what?
• The Triple Constraint
How quickly consumer demand changes with a
change in price.
Elasticity of Demand
Using large production or purchasing power to
reduce costs and increase profitability.
Economies of Scale
Using technology to transform a market or
create an entirely new market.
Disruptive innovation
• The three advantages of being the first to
market, which include employee experience,
securing resources, and customer adaptation,
are referred to as what?
First Mover
• Process which involves techniques to reduce
variance in output to less than 3.4 errors per
1,000,000 manufacturing steps, effectively
eliminating defects.
Six Sigma
States that when faced with an ethical dilemma
the manager should choose the option that
does the greatest good for the most involved.
Does the end justify the means?
Utilitarian Principle
Your right to control what happens with
personal information about you.
Privacy
• A small text file of information created by
websites you visit that your web browser
stores on your hard disk.
Cookie
A form of spyware that records all actions
typed on a keyboard.
• Keystroke Logger
Human knowledge and ideas that the law protects against unauthorized use by others that includes: 1.Patents 2.Trademarks 3.Copyrights 4.Trade secrets
Intellectual Property
The audience (group of people) that is defined
by specific demographics and behaviors and is
most likely to be interested in the product or
service being offered by an organization
Target Market
The processes and strategies an organization
uses to obtain new customers..
Customer Acquisition
A lead (i.e., a prospective customer) who has an identified interest in a brand or product/service offering
Marketing qualified lead (MQL)
The name of the comprehensive service
provided by Amazon in which they store, ship,
and accept returns on behalf of your company
• Fulfillment by Amazon
• As discussed in our lecture, this company can
produce geographic data on where graduates
from specific institutions are now working.
A task in the work breakdown structure that
needs to be completed before a particular
task can begin
Predecessor
• The longest project path that identifies tasks
that cannot be delayed without affecting the
finish date
Critical Path
• The phase that involves wrapping up a project
in an orderly way and a sponsor signing off
that all deliverables have been received and
accepted.
Closing
An approach to the transition employees
make as they switch from existing work to
new processes
Change Management
• Lack of executive support, lack of stakeholder involvement, unclear requirements, technology problems, scope creep and excessive customizations are examples of what?
Why projects fail
The increased value of a product or service
when more people are using it is called
_____________.
Network Effect
When alternative products are available at
attractive savings, it is known as
Threat of Substitutes
• The resource that Gartner leverages to
evaluate the evolution and maturity of
emerging technology .
Hype Cycle
A potential technology breakthrough kicks
things off.
• Innovation Trigger
Who predicted:
- We will be a space‐faring species
- We will expand the brain’s capabilities
- We will defeat cancer
Michio Kaku
States that some decisions are either morally
right or morally wrong. In other words, there
exist certain moral values that should always
be upheld or never be violated.
The Principle of Moral Rights
• Decision making that involves tasks and
choices that are routine and encompass
prescribed and definite procedures for how
they should be handled
Structured decisions
This framework is used to structure an
organization’s strategic plan and goals using
measurable outcomes of organizational
performance.
Balanced Scorecard
Quantifiable values that validate how
effectively an organization is accomplishing
significant business objectives.
Key Performance Indicator
The question in the center of Simon Sinek’s
Golden Circle?
Why
As discussed in class, this alternate URL (not
amazon.com), redirects to amazon.com and is
reflective of one of several names that Jeff
Bezos thought of naming the company
Relentless.com
